City Developments stock gains 2.43 percent after 350-unit launch

Published on 10/07/2026 at 05:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

City Developments stock was trading at SGD 7.16 on October 7, 2026, while H1 2026 revenue reached SGD 2.72 billion. PATMI rose 230.7 percent year over year.

City Dev, SG1R89002252, Illustration mit AI erstellt.

City Developments stock (ISIN SG1R89002252) was trading at SGD 7.16 on the Singapore Exchange on October 7, 2026, up 2.43 percent from the previous close. The immediate company milestone is Lucerne Grand, where 350 of 570 units had sold by October 4, 2026, according to City Developments.

Lucerne Grand reaches 61 percent

The 350 sales represent 61 percent of the development's 570 homes. The project carries an average price of SGD 2,480 per square foot and is directly linked to Lakeside MRT station, giving the launch a clear transport and location proposition.

The sales figure follows City Developments' September 28 strategic review. The company plans SGD 5 billion of investments and SGD 6 billion of divestments through its FY 2027 to FY 2029 roadmap, while targeting net gearing of 55 percent by FY 2029, according to City Developments.

H1 earnings set a high base

For the half year ended June 30, 2026, revenue increased 61.1 percent year over year to SGD 2.72 billion, while PATMI rose 230.7 percent to SGD 301.6 million. Hotel operations also moved from a pre-tax loss of SGD 84.4 million in H1 2025 to a pre-tax profit of SGD 42 million, according to POEMS.

That comparison matters because the strong first-half result benefited from full revenue recognition for the completed Lumina Grand project. POEMS said Phillip Securities Research kept a Buy rating and an RNAV target of SGD 11.32, while noting that the FY 2026 forecasts were unchanged.

Consensus target remains higher

Investing.com lists a Buy consensus from 13 analysts, with an average 12-month target of SGD 10.42, a high target of SGD 12.11 and a low target of SGD 6.10. The average target lies 45.5 percent above the SGD 7.16 price on October 7, 2026.

The market is therefore weighing two different time horizons. Lucerne Grand supplies a near-term sales datapoint, while the GET+ plan depends on executing SGD 6 billion of asset sales, reducing leverage and building assets under management from SGD 5 billion at June 30, 2026, to SGD 10 billion by FY 2029.

City Developments stock trades at SGD 7.16

City Developments stock was last at SGD 7.16 on the Singapore Exchange on October 7, 2026, at 10:50 a.m. SGT. Its market capitalization was SGD 6.4 billion and its 52-week range was SGD 6.87 to SGD 10.09 on the same date.